Poland's central bank cuts interest rates to 3.75%

PolyaLesova

NEW YORK (MarketWatch) -- Poland's central bank reduced its benchmark interest rate by 25 basis points to 3.75% on Wednesday, meeting market expectations. The U.S. dollar rose 0.8% against the Polish currency, the zloty, while the euro gained 0.6% against the zloty. "There are good reasons for the cut," said Lars Christensen, chief analyst at Danske Bank. "First, the downtrend inflation is continuing. Second, economic activity has dropped significantly in Poland in recent months and finally, the zloty seems to have stabilized somewhat after the sell-off earlier in the year."

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